The wheat complex is facing pressure on Wednesday, as money is coming off the table. Chicago SRW futures are falling 19 to 22 cents so far on the session. KC HRW futures are 20 to 22 ½ cents in the red on Wednesday. MPLS spring wheat was is down 17 to 18 cents at midday. Crude Oil is weaker, down $1.56 as the Middle East situation has cooled off after a post from President Trump suggested Iran is looking for a ceasefire.
Export Sales data will be released on Thursday morning, as traders are looking for between 200,000 and 500,000 MT for old crop wheat. New crop business is seen in a range of 100,00 to 300,000 MT.
